Form 4: Commvault CCO Sells Shares for Tax, 10b5-1 Plan

Commvault's Chief Commercial Officer, Gary Merrill, sold a total of 4,519 shares of common stock in two transactions in November 2025, primarily for tax obligations and under a pre-arranged 10b5-1 trading plan.

Summary

• Gary Merrill, Chief Commercial Officer of Commvault Systems Inc. (CVLT), reported two sales of common stock.
• On November 18, 2025, Merrill sold 2,674 shares at a weighted average price of $123.58 per share (ranging from $123.58 to $124.33). These shares were sold to satisfy tax withholding obligations upon the vesting of restricted and performance stock.
• On November 19, 2025, Merrill sold an additional 1,845 shares at $122.4 per share. This sale was executed under a Rule 10b5-1 trading plan adopted on November 20, 2024, and amended on June 13, 2025.
• Following these transactions, Merrill beneficially owns 67,318 shares of Commvault common stock.
• The total number of shares sold across both transactions is 4,519.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider selling can sometimes be perceived negatively, these sales are explicitly for tax withholding and under a pre-arranged 10b5-1 plan, which are routine and non-discretionary, mitigating any strong negative signal.

Positives

• The sale of 2,674 shares was for tax withholding obligations, a routine event associated with the vesting of executive compensation.
• The sale of 1,845 shares was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a scheduled, non-discretionary transaction rather than a reactive sale based on new information.

Negatives

• The Chief Commercial Officer reduced his direct beneficial ownership in the company by a total of 4,519 shares.

Future Outlook

This Form 4 filing reports insider transactions and does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This insider transaction report is specific to Commvault Systems Inc. and its Chief Commercial Officer. It does not provide information directly related to broader industry trends or competitive landscape, as Form 4 filings are primarily for transparency regarding executive stock ownership changes.

Stakeholder Impact

• Shareholders: The reduction in direct beneficial ownership by a key executive could be noted by investors, though the explained nature of the sales (tax, 10b5-1 plan) suggests it is not indicative of a change in management's confidence in the company.

Next Steps

• The reporting person will provide full information regarding the number of shares sold at each separate price upon request to the SEC staff, the issuer, or a security holder.

Key Dates

Keywords

Commvault, CVLT, insider transaction, Form 4, stock sale, executive compensation, 10b5-1 plan, Chief Commercial Officer